Available-for-Sale Securities (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Available-For-Sale Securities Recorded in Cash and Cash Equivalents or Marketable Securities

The following table is a summary of available-for-sale securities recorded in cash and cash equivalents or marketable securities in the Company’s condensed consolidated balance sheets (in thousands):

	June 30, 2024
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
U.S. Treasury money market funds	$	28,158	$	—	$	—		$	28,158
Marketable securities:
Certificate of deposit		533		—		—			533
U.S. Treasury securities		51,926		—		(37	)		51,889
Commercial paper		65,572		3		(81	)		65,494
Corporate debt securities		10,994		1		(5	)		10,990
U.S. government agency bonds		7,005		—		(5	)		7,000
Total	$	164,188	$	4	$	(128	)	$	164,064
Cash									118
Total cash, cash equivalent and marketable securities								$	164,182

	December 31, 2023
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash equivalents:
U.S. Treasury money market funds	$	35,349	$	—	$	—		$	35,349
Marketable securities:
Certificate of deposit		544		—		—			544
U.S. Treasury securities		54,066		151		(42	)		54,175
Commercial paper		65,038		41		(9	)		65,070
U.S. government agency bonds		46,115		27		(52	)		46,090
Total	$	201,112	$	219	$	(103	)	$	201,228
Cash									144
Total cash, cash equivalent and marketable securities								$	201,372

Summary of Gross Unrealized Losses and Fair Value by Major Security Type for Available-For-Sale Securities in Unrealized Loss Position

The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of June 30, 2024 and December 31, 2023 (in thousands):

	June 30, 2024
	Less than 12 consecutive months
	Fair Value		Unrealized Losses
U.S. Treasury securities	$	48,463	$	(37	)
Commercial paper		47,574		(81	)
Corporate debt securities		7,814		(5	)
U.S. government agency bonds		7,000		(5	)
Total	$	110,851	$	(128	)

	December 31, 2023
	Less than 12 consecutive months
	Fair Value		Unrealized Losses
U.S. Treasury securities	$	16,261	$	(42	)
Commercial paper		20,789		(9	)
U.S. government agency bonds		39,052		(52	)
Total	$	76,102	$	(103	)

Summary of Amortized Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity

As of June 30, 2024, the amortized cost and estimated fair value of the Company’s available-for-sale securities by contractual maturity are shown below (in thousands):

	Amortized		Estimated
Available-for-sale securities maturing in:	Cost		Fair Value
One year or less	$	164,188	$	164,064
Total available-for-sale securities	$	164,188	$	164,064